Thursday 8 September 2016

Review of last month

August was a special month for me.

Difference between my assets (only my bankroll is counted here, not my house,car and other minor assets) and liabilities went up from -22300€ to -19519€ for 31.8.2016.
In other words 2781€ saved in last month and 60% difference between July and August in savings!
August is best month of this year hands down.

As of 31.8 my bankroll is 29181€ and I have another 7900€ which I can use anytime I need(for an interest).

Another notable stats:
Amount saved is about 10% of my bank. This would give me 120% in savings at this rate yearly.
My overall earnings for August were actually much higher, 4980€, so I spent 2200€ last month mainly on utility bills, insurance, gas and food.
So my return on assets (ROA) for August was 17%.

To be earning 5000€ monthly feels very good. Especially when I look back where I was just 2 years ago.
After 15 days I had already 2000€ saved and I saw myself touching 4000€ in savings at the end. But it didn't happen maybe just because I pushed myself too hard and was getting too far ahead.

I always want to think how rare it is on larger scale. I would say around 80% of western world is below this number and probably 97% of the entire world population.

So for next month of September my goal is to save just 10% more than in August so 3061€ is the number. After all if I would increase my savings by 10% each moth for next 12 months, in August 2017 I would be saving 8730€ monthly!

My goal for a year 2016 was to save up 15000€. To achieve this one I need around 6000€ more saved till the end of the year. That means 1500€ saved for each remaining month.
When do you think I will reach it?




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